"But we are not dealing with rational people here. We are dealing with House Republicans."

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Jonathan Chait:

But we are not dealing with rational people here. We are dealing with House Republicans. 

ding!

Chait sure knows his irrationals.

If Boehner strikes a deal before January, Republicans will suspect he gave away revenue he could have fought for. But if he refuses, the House Republicans will see for themselves what happens. The revenue will go away on its own, over Boehner’s objections. All Obama has to do is continue to make clear he will not under any circumstances extend any tax cuts on income over $250,000 a year. Then he has nearly all the revenue he needs, and he can offer Republicans a deal they would never walk away from. They might try to get that deal in December, but January remains the best bet.

But didn't the president already wiggle up to the $400,000 number? Yes, yes he did: Obama offers new tax hike threshold of $400,000. Stay tuned.

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